Negotiating Part Exchange

J5891

Hey

Just looking for some advice.

We are interested in two developments with Millers and Taylor Wimpey.

Taylor Wimpey have come back with the part exchange offer on our house which is around 10% less than what we were advised to put it on for last month by 2 estate agents. However I have read enough posts in this forum where the same thing has happened so I wasn't that surprised.

Miller are yet to come back to us with the part exchange offer.

We need around £3000 more added to the part exchange offer from Taylor Wimpey.

My question is, how should we go about the negotiations?

a. Just straight up ask for the figure we need?
b. Ask for their best offer?
c. Tell Taylor Wimpey we are interested in a house with Miller and will wait for them instead?

Bear in mind that the woman at Taylor Wimpey has already spoken to head office and they have said they can't move on the exchange offer. But then she did say if it was only a small amount she could keep pushing.

Any advice would be appreciated!

Thanks

cattie

Remember the figure quoted by the ea was the maximum price they would expect your place to go for. When selling via an ea, you would expect buyers to be making an offer which is under the marketing price and you'd have to pay ea fees as well. So by comparison, 10% less than the ea suggested sounds very reasonable indeed.

Many house builders are very reluctant to offer the deals they were even a couple of years ago when the market was flat or still in decline, so you might find it very hard going to squeeze an extra £3k from either of the builders.

J5891

Thanks for the reply.

10% off is a reasonable figure but we thought as we are paying asking price then we would be able to negotiate a little onto the part exchange price.

jbainbridge

Check local sold prices to guage what might get on the open market. EAs will always market for higher than they expect to get. You might be able to use this as a bargining tool.

That said if £3k is what will do it ... get any extras you want negotiated and then ask for the £3k (£5k if you're feeling lucky). Depends what your local market is like ... if they are selling well they might not bite.

J5891

Thanks for the advice, we will go through our figures and look at what extras we need to be included.

supernothing

With Taylor Wimpey have you looked at their easy mover instead of part ex? They help market your current home to sell quicker rather than buy it off you.

ethank

Apparently, Easymover is not available on every development with TW.

I would tell them they are very close, and they will definitely have wiggle room.

Thrugelmir

J5891 wrote: »

Thanks for the reply.

10% off is a reasonable figure but we thought as we are paying asking price then we would be able to negotiate a little onto the part exchange price.

TW will wish to sell the property on as quickly as possible. So they won't be holding out for a better price.

J5891

supernothing wrote: »

With Taylor Wimpey have you looked at their easy mover instead of part ex? They help market your current home to sell quicker rather than buy it off you.

I don't think Easy Mover is available on the ploy and we would prefer to part exchange.
Thanks for the suggestion.

J5891

We are going to wait for Miller to come back with a price on part exchange and will then decide between the two. We will probably just ask for the price we need and see if they go for it.

terrierlady

Part exchange price is as is..... they are not buying yours they will do a back to back sale on it.only negotiation is money off new home but then have you got the agreed differential between yours and theirs? How quick is property selling on this development? When is home complete?